xReality Group signs defence agreement with Thales Australia
- xReality Group signed a non-binding memorandum of understanding with Thales Australia to pursue military and law enforcement training opportunities.
- The arrangement contains no certain contract or revenue generation at this stage of the business development framework.
- The agreement establishes a structure for joint business development, customer engagements, tender responses, and technology demonstrations.
xReality Group (ASX:XRG) has executed a non-binding agreement with Thales Australia to jointly target global defence, security, and law enforcement simulation markets.
The collaborative arrangement follows previous international expansion efforts by the simulation company, which included securing training technology contracts within the United States.
“This is a genuine two-way collaboration with a global defence prime [that] opens a path to programmes of a scale that would be difficult to reach on our own and equally allows us to bring Thales’s capability into opportunities we lead,” said xReality Group Chief Commercial Officer Ben Smith.
The agreement allows either company to lead individual commercial opportunities while utilising the immersive training platforms developed by the subsidiary company, Operator XR.
The company stated that the transaction is expected to position the business to access larger-scale military programmes beyond its current direct footprint.
Following the announcement, the xReality Group share price was unchanged at $0.067.
The enterprise operates by designing both physical and digital reality training systems that are currently in service with more than 100 international agencies.
